Australia Ankylosing Spondylitis Therapeutics Market Analysis

Australia Ankylosing Spondylitis Therapeutics Market Analysis Summary

Australia Ankylosing Spondylitis Therapeutics Market is valued at around $67.91 Mn in 2022 and is projected to reach $109.06 Mn by 2030, exhibiting a CAGR of 6.1% during the forecast period 2023-2030.

Ankylosing spondylitis is an inflammatory condition that results in the vertebrae of the spine fusing together. This fusion reduces the flexibility of the spine and may lead to a hunched-over posture. According to the Spondylitis Association of America, Ankylosing spondylitis frequently manifests in young people between the ages of 17 and 45 if the ribs are involved (SAA). Ankylosing spondylitis is characterized by pain and stiffness that is greater in the morning or after lying down but becomes better with exercise. It could be challenging to breathe deeply. The lower back, hips, and buttocks can all experience discomfort and stiffness due to ankylosing spondylitis among others, night sweats, fatigue, and pain in ligaments and tendons.

Key elements fueling the market expansion include the increased incidences of Ankylosing spondylitis and arthritis, as well as strategic moves made by top industry participants. The illness frequently begins in early adulthood and is more prevalent in males than in women. The rising incidence of the condition and the rising demand for efficient therapies are driving the market for Ankylosing Spondylitis treatments to expand. The market is anticipated to grow even more as key players in the sector adopt efficient methods, giving a wealth of prospects for progress. The global market for ankylosing spondylitis is dominated by companies like Abbvie, Amgen, Eli Lilly, Janssen, Merck, Pfizer, Novartis, UCB, and many more. These businesses concentrate on research and development to introduce cutting-edge therapies to the market. They also engage in strategic alliances and acquisitions to increase their market share.

Market Dynamics

Market Drivers

1. Increasing Prevalence: The global market for Ankylosing spondylitis is expanding as arthritis is becoming more common. For example, the estimations of the arthritis foundation state that as of 2019, there are more than 54 Mn adults and almost 300,000 children suffering from arthritis or another form of rheumatic disease worldwide. According to a report titled "Prevalence of Ankylosing Spondylitis in Spain" that was published in the Scandinavian Journal of Rheumatology in 2020, the study discovered that 7.3% of the population has positive Ankylosing Spondylitis screening results
2. Therapy Advancement: One of the main factors propelling the growth of the market for ankylosing spondylitis is the development of therapies. Monoclonal antibodies like Taltz, which have been developed as new and potent medicines, have improved illness management and reduced symptoms. This in turn has increased the demand for these therapies, fueling the market's expansion
3. Increase in Number of Hospitals: Increased access to orthopedic hospitals and testing facilities aids in illness detection and treatment. For instance, the U.S. will have more than 30,500 orthopedic surgeons in 2020, according to reliable healthcare statistics

Market Restraints

1. High Cost of Therapy and Adverse Effects of Drugs: A significant obstacle for the industry is the high cost of ankylosing spondylitis treatment. Biologics, for example, can be highly expensive, making it challenging for patients to receive these treatments. Additionally, the negative side effects of the medications used to treat ankylosing spondylitis also restrict their use and hinder the market's expansion
2. Lack of Specific Treatment: People with ankylosing spondylitis have few therapeutic options, especially if their painful symptoms continue despite using a TNF blocker. CEO of the American Spondylitis Association, Cassie Shafer
3. Daily Habits of Patients: Ankylosing spondylitis affects about 5,000 adults, and a study that examined data from 17 studies found that the more participants smoked, the more often they reported pain and mobility issues. Additionally, compared to non-smokers, study participants who smoked more than 10 cigarettes per day had considerably lower health-related quality of life

Developments in Ankylosing Spondylitis Drugs Market

The clinical trial for Ankylosing Spondylitis (Bekhterev's disease), Sonelokimab, is now in phase I and is being conducted by Moonlake Immunotherapeutics. The phase transition success rate indication standard for moving phase I ankylosing spondylitis (Bekhterev's illness) medicines into phase II is 91%. For the treatment of moderate to severe plaque psoriasis, psoriatic arthritis, Ankylosing spondylitis, and hidradenitis suppurativa, sonelokimab (m-1095) is being developed. The drug candidate is injected under the skin.

Adult patients with active ankylosing spondylitis who have not improved with traditional therapy should consider RINVOQ. RINVOQ is a selective and reversible jak inhibitor that was discovered and created by Abbvie scientists. It is being researched for use in a number of immune-mediated inflammatory illnesses.